Fenner shareholders cordiale ahead of entente

Any shareholders in Michelin SCA (EPA:ML) who had reservations when the French group last month tabled a £1.2bn (610p a share) takeover bid for Fenner (FENR) would have been reassured by the engineer’s half-year figures. The Yorkshire-based group, a manufacturer of industrial belts and other specialist components, has regained momentum on the sales front following subdued trading in some of its core markets in 2015 and 2016.